HTF Candles with PVSRA Volume Coloring (PCS Series)

This indicator displays higher timeframe (HTF) candles using a PVSRA-inspired color model that blends price and volume strength, allowing traders to visualize higher-timeframe activity directly on lower-timeframe charts without switching screens.

OVERVIEW
This script visualizes higher-timeframe (HTF) candles directly on lower-timeframe charts using a custom PVSRA (Price, Volume & Support/Resistance Analysis) color model.
Unlike standard HTF indicators, it aggregates real-time OHLC and volume data bar-by-bar and dynamically draws synthetic HTF candles that update as the higher-timeframe bar evolves.
This allows traders to interpret momentum, trend continuation, and volume pressure from broader market structures without switching charts.

INTEGRATION LOGIC
This script merges higher-timeframe candle projection with PVSRA volume analysis to provide a single, multi-timeframe momentum view.
The HTF structure reveals directional context, while PVSRA coloring exposes the underlying strength of buying and selling pressure.
By combining both, traders can see when a higher-timeframe candle is building with strong or weak volume, enabling more informed intraday decisions than either tool could offer alone.


HOW IT WORKS

1. Aggregates price data: Groups lower-timeframe bars to calculate higher-timeframe Open, High, Low, Close, and total Volume.
   
2. Applies PVSRA logic: Compares each HTF candle’s volume to the average of the last 10 bars:
     • >200% of average = strong activity
     • >150% of average = moderate activity
     • ≤150% = normal activity
   
3. Assigns colors:
     • Green/Blue = bullish high-volume
     • Red/Fuchsia = bearish high-volume
     • White/Gray = neutral or low-volume moves
   
4. Draws dynamic outlines: Outlines update live while the current HTF candle is forming.
   
5. Supports symbol override: Calculations can use another instrument for correlation analysis.
   

This multi-timeframe aggregation avoids repainting issues in request.security() and ensures accurate real-time HTF representation.


FEATURES

• Dual HTF Display: Visualize two higher timeframes simultaneously (e.g., 4H and 1D).
  
• Dynamic PVSRA Coloring: Volume-weighted candle colors reveal bullish or bearish dominance.
  
• Customizable Layout: Adjust candle width, spacing, offset, and color schemes.
  
• Candle Outlines: Highlight the forming HTF candle to monitor developing structure.
  
• Symbol Override: Display HTF candles from another instrument for cross-analysis.
  

SETTINGS

• HTF 1 & HTF 2: enable/disable, set timeframes, choose label colors, show/hide outlines.
  
• Number of Candles: choose how many HTF candles to plot (1–10).
  
• Offset Position: distance to the right of the current price where HTF candles begin.
  
• Spacing & Width: adjust separation and scaling of candle groups.
  
• Show Wicks/Borders: toggle wick and border visibility.
  
• PVSRA Colors: enable or disable volume-based coloring.
  
• Symbol Override: use a secondary ticker for HTF data if desired.
  

USAGE TIPS

• Set the indicator’s visual order to “Bring to front.”
  
• Always choose HTFs higher than your active chart timeframe.
  
• Use PVSRA colors to identify strong momentum and potential reversals.
  
• Adjust candle spacing and width for your chart layout.
  
• Outlines are not shown on chart timeframes below 5 minutes.
  

TRADING STRATEGY

1. Strategy Overview: Combine HTF structure and PVSRA volume signals to
    • Identify zones of high institutional activity and potential reversals.
    • Wait for confirmation through consolidation or a pullback to key levels.
    • Trade in alignment with dominant higher-timeframe structure rather than chasing volatility.
   
   
2. Setup:
    • Chart timeframe: lower (5m, 15m, 1H)
    • HTF 1: 4H or 1D
    • HTF 2: 1D or 1W
    • PVSRA Colors: enabled
    • Outlines: enabled
   
   
3. Entry Concept:
   High-volume candles (green or red) often indicate market-maker activity, such zones often reflect liquidity absorption by larger players and are not necessarily ideal entry points.
   Wait for the next consolidation or pullback toward a support or resistance level before acting.
   
   Bullish scenario:
    • After a high-volume or rejection candle near a low, price consolidates and forms a higher low.
    • Enter long only when structure confirms strength above support.
   
   Bearish scenario:
    • After a high-volume or rejection candle near a top, price consolidates and forms a lower high.
    • Enter short once resistance holds and momentum weakens.
   
   
4. Exit Guidelines:
    • Exit when next HTF candle shifts in color or momentum fades.
    • Exit if price structure breaks opposite to your trade direction.
    • Always use stop-loss and take-profit levels.
   
   
5. Additional Tips:
    • Never enter directly on strong green/red high-volume candles, these are usually areas of institutional absorption.
    • Wait for market structure confirmation and volume normalization.
    • Combine with RSI, moving averages, or support/resistance for timing.
    • Avoid trading when HTF candles are mixed or low-volume (unclear bias).
    • Outlines hidden below 5m charts.
   
   
6. Risk Management:
    • Use stop-loss and take-profit on all positions.
    • Limit risk to 1–2% per trade.
    • Adjust position size for volatility.
   

FINAL NOTES
This script helps traders synchronize lower-timeframe execution with higher-timeframe momentum and volume dynamics.
Test it on demo before live use, and adjust settings to fit your trading style.

DISCLAIMER
This script is for educational purposes only and does not constitute financial advice.

SUPPORT & UPDATES
Future improvements may include alert conditions and additional visualization modes. Feedback is welcome in the comments section.

CREDITS & LICENSE
Created by seoco — open source for community learning.
Licensed under Mozilla Public License 2.0.